Rbi guidlines
anupam sharma
(Querist) 28 July 2013
This query is : Resolved
is there any RBI guidline as to recovery of only upto twice the loaned amount and not more?
R.K Nanda
(Expert) 28 July 2013
contact RBI officials.
prabhakar singh
(Expert) 28 July 2013
Like you i also heard the same but none could come before me with the guideline you speak about nor could i ever successfully search.
Policy of RBI regarding NPAS can be looked by you in following pdf of 23 pages:
http://www.theratnakarbank.com/pdfs/bp/Recovery%20Policy%20-%202012.pdf
Nadeem Qureshi
(Expert) 29 July 2013
Dear Querist
post your query on RBI portal
Guest
(Expert) 29 July 2013
Instead of posting a theoretical & academic query, you could better have discussed about your real problem for appropriate advice.
anupam sharma
(Querist) 29 July 2013
the facts of case are that a suit for recovery of home loan filed by bank. warrants of attachment/arrest issued. revision fled in high court,stay granted on payment of 2.5 lac, another date, 4.92 lac paid in district court on direction of high court to pay balance . assumed balance is decretal amount, thus such sum paid. at district court, bank demanded 8.5 lac more, district court issues arrest warrant pending stay in high court. the JD has already paid more than 7 lac against original loan of 3.3 lac. what to do
malipeddi jaggarao
(Expert) 29 July 2013
As regards there are no such guidelines if it is Home Loan. You are required to pay decretal amount or fight the case in appeal.
prabhakar singh
(Expert) 29 July 2013
When decree is already passed no guideline is going to work at least in Executing court
unless Bank agrees to a compromise.Try for one time settlement still possible.
And be sure there is no such guidelines.
Rajendra K Goyal
(Expert) 29 July 2013
Agree with the expert prabhakar singh ji. No such guidelines have been noticed.
anupam sharma
(Querist) 30 July 2013
the decree dated 05.02.2007 stated recovery amount to be 4.8 lac + 13% interest= RS 742275 till application of execution filed, property atatched on 13.02.2008. however, no bid in auction due to no fault of JD. Id JD liable to pay interst after attachment i.e. 13..02.2008 when his property was already attached by court for realisation of amount. and what now, when JD paid 742275 and his property still attached?
malipeddi jaggarao
(Expert) 31 July 2013
If JD wishes to pay off the debt calculated upto the date of execution petition i.e., Rs.742275/-, he can definitely have a dialogue with the bank and impress upon them not insist further interest from the date of execution petition.
Since the bank could not procure bidders once, they will definitely agree with this proposal.
